China and Germany pledge closer economic cooperation and ‘smooth supply chains’

“China is ready to work with Germany… to deepen mutual benefit and win-win cooperation so as to inject more positivity in the China-German comprehensive strategic partnership,” He said, according to state agency Xinhua.

The talks were the first China-Germany high-level financial dialogue to be held in four years as a result of the Covid-19 pandemic and come as Berlin is reassessing the relationship.

Huawei facing pressure in Europe after report Germany is mulling 5G ban

At a National Day event in Berlin on Thursday to mark the 74th anniversary of the founding of the People’s Republic, Wu Ken said China was willing to deepen cooperation with Europe and Germany on the basis of mutual benefit.

“We hope Europe will show more openness and self-confidence on the issue of electric vehicles and Huawei’s 5G technology,” Wu said.

In their last round of talks in January 2019, both sides signed agreements to strengthen coordination in banking, finance and capital markets, and pledged to further open market access and deepen cooperation in a bid to broaden economic ties.

On Thursday, Wu acknowledged Germany and Europe’s contribution to China’s reform and development over the decades, and stressed that his country would keep opening up. This progress had also benefited Europe, he said.

“Reform and opening up, which began 45 years ago, is the institutional code for China’s great achievements, and China’s future high-quality economic development will also take place under more open conditions,” he said.

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China’s largest shipment of electric vehicles sets sail from Shanghai port

China’s largest shipment of electric vehicles sets sail from Shanghai port

“In turn, China’s development has contributed to the economic prosperity and well-being of Europe and Germany, and China has become an important growth and profit market for many German companies.”

However, disagreements between the two countries have widened in the past three years, as the pandemic disrupted exchanges and cooperation.

“Recently, some European think tanks and so-called China experts have created a lot of disparaging articles and viewpoints on China’s economy, some even portrayed China as ‘the source of risk’ to the global economy,” he said.

“In the face of a century of changes and the ‘turn of the times’, as well as increasing global challenges, awareness of worries and risks is necessary and beneficial.”

Wu said China understood German’s concerns and fears but the “fear of change and competition should not lead us to stray from the path [of cooperation] or to put up barriers”.

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Shanghai customers ‘not very satisfied’ with iPhone 15 series on 1st day of release

Shanghai customers ‘not very satisfied’ with iPhone 15 series on 1st day of release

“I hope that the German government and society can continue to view students and scholars from China with an open mind rather than with suspicion or even vigilance,” Wu said, calling on both sides to renew efforts to improve ties and understanding.

“We need to sow more seeds of friendship in the hearts of the young generations of the two countries. They are not risks, but the future of the two countries, as well as builders of bilateral ties.”